I was reading back on a post from bill bauer looking for a good estoppel letter when I came across something he said in the post, "Lizardking-check ths letter" from feb 2001, concerning the following phrase "4) Please evidence your authorization to do business or operate in the state of Florida. " He said that it is better to ask them if they have filled out a 1099-c form which is a forgiveness of debt form or something. Has anyone used this "1099-c request form" line instead of the "do business in state" request? If so, what have been your results and is this a better way of writing the letter? thanks
please someone, Lizard or anyone, who may have a clue on how to answer this question I would appreciate it.
Well, I believe that "authorization to operate in that state" depends on each individual laws that govern collection agencies. As far as a 1099c goes, the creditor writes your debt off and reports it to the IRS as income for you...
So do you have any idea why bill bauer was saying that it was a good tactic to use? He said something about how most CAs don't know anything about this form and it is a good weapon. I am posting the thread where I read it. Thanks again. http://consumers.creditnet.com/stra...tid=49836&highlight=estoppel+letter#post49836
i would think that telling them that you will go after their bonding agency, would be more effective than telling them that you want to know if they filed that form..I personally dont see the benifit, but maybe I am missing something.. Either way I would not focus too much on this stuff. A simple letter is much more effective and it doesnt make you sound like MR SMARTY PANTS. Letting them know that you mean business is all that matters...
1099s are forms calculating income that you have not paid tax on. They must be sent annually prior to February 28 for the previous tax year and must be reported on the receptient's personal income tax form. They are considered taxable income and must be included. Which basically means you must pay the tax on this. Personally, the method doesn't make too much sense to me because if you can't afford to pay the creditor the charged off amount, how are you able to afford the tax on it? Dani
Ok, I guess that I get it. Just wanted to make sure that I wasn't missing some super powerful attack method!! Thanks guys.
